Banker and economic historian Charles Morris predicted the current economic meltdown a year ago. | |
Anonymous Coward User ID: 333742 United States 03/26/2008 08:24 PM Report Abusive Post Report Copyright Violation | |
TEXAS UNCENSORED User ID: 400556 United States 03/26/2008 08:33 PM Report Abusive Post Report Copyright Violation | Re: Banker and economic historian Charles Morris predicted the current economic meltdown a year ago. Many of us here at GLP have been saying this for years, but no one was listening. It was only obvious. I worked in areas where middle income people were moving into homes that were way above what they should have been able to afford. No matter what the mortgage arrangements, I wondered how long before the raises didn't keep up with the increased payments. I could see them becoming neglected and foreclosed on a long time ago. Now it is happening. When the credit card companies started playing games to rip the consumer into higher and higher payments, I knew that sooner rather than later, the consumer would be tapped out, & have no choice but to walk away. As the stock market continued it's artificially priced ride, I knew it would have to crash. Wages aren't keeping up with the speculation. If Bush & Cheney hadn't pulled a coup d'tat , we would have had an intelligent administration tending to the business of the people. This could have been averted. But the crooks were not impeached , and jailed. Now , we all pay, even though it is they who owe us. |
No one listened (OP) User ID: 115 United States 03/26/2008 08:45 PM Report Abusive Post Report Copyright Violation | Re: Banker and economic historian Charles Morris predicted the current economic meltdown a year ago. meh.. I've been predicting a deflationary implosion for years now.. I was just a little early. Quoting: Anonymous Coward 333742You should have written a book and beat this guy Morris to his claim to fame. |